Connect with us

Base Metals

Equities are mostly higher in Asia

Equities are mostly higher in Asia

Share this article:

Published

on

This article was originally published by Market Pulse

Hints of more stimulus in South Korea and Japan, along with another strong service PMI print has lifted North Asia today. That followed yet another strong close by Wall Street indices overnight.

China’s economy is showing signs of recovery, and this was reinforced by key Chinese data once again this morning, Caixin Services PMI came in at 54.0, which points to expansion for the fourth month in a row. That Asia will probably lead the world out of the pandemic recession should not come as a surprise, although the recovery will be uneven across the region. That has lifted the mood in Asia today, with the region’s major equity markets mostly in the green.

The Nikkei 225 has climbed by 1.0%, with the Kospi jumping an impressive 1.35%. Mainland China’s Shanghai Composite and CSI have both edged 0.20% higher. Australian markets have ignored the trade balance completely, preferring to concentrate on a lower Australian dollar and the positive China data. The ASX 200 and All Ordinaries rising 0.90%.

With Wall Street rotating in defensive sectors, and the US dollar falling, regional Asian markets have fared somewhat worse, being more vulnerable to fast money rotation than their big brothers. Hong Kong has paused for breath declined 0.30%, perhaps with investors cashing up to bid for the upcoming Ant Financial IPO. Singapore is down 0.50% after Manufacturing PMI contracted once again, showing the City-state still mired in the worst recession of a generation. Peripheral Malaysia and Indonesian indices are down 0.60% being more vulnerable than most to the nuances of international fast money beating a temporary retreat.

Stock markets in Asia will continue to be a mixed bag between the haves and have-nots for the rest of the session. European shares are likely to catch the tailwind of a lower euro as their session commences.

asx
lead

Share this article:

Uncategorized

Copper Co. Says BC Project 'Chock Full of Minerals'

Source: Streetwise Reports   02/01/2023

Alpha Copper Corp. releases results from 2022 fieldwork and diamond drilling at its Indata project…

Share this article:

Continue Reading
Companies

Mining Co. Expands, Starts Exploring Canadian Land

Source: Adam Schatzker   02/01/2023

The company started a high-resolution magnetic survey of its entire, recently increased nickel-copper property…

Share this article:

Continue Reading
Uncategorized

Billionaire Robert Friedland Calls for End to “African Discount” in Epic Copper Rant

Robert Friedland has taken a stunning swipe at analysts discounting DRC copper ahead of an expansion of Ivanhoe Mine’s…

Share this article:

Continue Reading

Trending